XN000022-1988-08-28 — Page 3

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SUNDAY, AUGUST 28, 1988

PEAK TRAM FRANCHISE EXTENDED TO 2004

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TRAMWAYS

THE GOVERNMENT HAS EXTENDED THE FRANCHISE OF THE PEAK COMPANY LTD TO RUN AND OPERATE THE PEAK TRAM SERVICE FOR A FURTHER 10 YEARS FROM JANUARY 1, 1994.

A NOTICE то THIS EFFECT WILL BE GAZETTED ON SEPTEMBER 2.

THE EXTENSION IS GRANTED AFTER THE COMPANY HAS MADE COMMITMENT TO CARRY OUT MODERNISATION AND IMPROVEMENT OF THE AND ANCILLARY EQUIPMENT.

FRIDAY,

A FIRM TRAMWAY

THE FRANCHISE OF THE PEAK TRAMWAYS COMPANY LTD WAS LAST EXTENDED FOR 10 YEARS COMMENCING ON JANUARY 1, 1984, WITH THE ENACTMENT OF THE PEAK TRAMWAY (AMENDMENT) ORDINANCE IN 1986.

A SECTION OF THE ORDINANCE ALSO PROVIDED THE SECRETARY FOR TRANSPORT THE AUTHORITY TO GRANT A FURTHER 10-YEAR EXTENSION OF THE FRANCHISE BY NOTICE IN THE GAZETTE IF THE COMPANY PRODUCED EVIDENCE OF COMMITMENT TO MODERNISE THE TRAMWAY SYSTEM WITHIN TWO YEARS AFTER THE COMMENCEMENT OF THE ORDINANCE.

A GOVERNMENT SPOKESMAN SAID THAT THE COMPANY HAD ALREADY SIGNED A CONTRACT FOR THE MODERNISATION OF THE SYSTEM IN MAY THIS YEAR.

THE MODERNISATION SCHEME WOULD INVOLVE REPLACEMENT STOCK, HAULAGE EQUIPMENT AND CONTROL/SIGNALLING SYSTEMS.

OF ROLLING

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